Northern Minerals’ Browns Range project in Western Australia has been noted as having global strategic value in the production of rare earths.
A definitive feasibility study (DFS) found the project, located in the East Kimberley region, will assist in reducing independence on imports from China, which currently controls almost all global output of heavy rare earth element (HREE) assets.
This is emphasised by the fact the Wolverine HREE deposit within the project contains one of the highest known proportions of dysprosium and terbium (Dy/Tb) among rare earth element deposits outside of China.
The DFS, described as a “major milestone” by Northern Minerals, outlines that the Browns Range project is forecast to produce approximately eight per cent of current global Dy/Tb supply, with the ore reserve estimate of 5.18 million tonnes (Mt) at 0.88 per cent total rare earth oxides (TREO) for 45,800 tonnes of TREO.
The project is expected to include 12 years of mining, supporting an 11-year life of mine (LOM) and is set to assist in the global reduction of carbon emissions.
“The DFS outlines a commercially viable, technically robust project with significant upside potential, conditional on ongoing work programs and the strong forecast HRRE prices being realised,” Northern Minerals managing director Shane Hartwig said.
The project is forecast to deliver average annual earnings before interest, taxes, depreciation, and amortisation (EBITDA) of $175 million and is set to produce approximately 17,500 tonnes per annum (tpa) of xenotime concentrate at approximately 25 per cent TREO, containing around 4350 tpa TREO.
“The global push to decarbonise in undeniable and irreversible, reinforcing the strategic value of projects like Browns Range to supply the raw materials that will enable energy transition,” Hartwig said.
“The DFS lays the foundation for bringing Browns Range into production, with our focus now shifting to securing the right funding solution to enable construction commencement in line with our schedule as Northern Minerals sets about delivering long-term, sustained value for our shareholders.”
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